Wednesday, February 4, 2009

I'm Not a Captain of Industry, But I play One On TV

Gee whillickers, the President of the United States just decided how much some business heads could get paid.

Anyone else feel a cold shiver go up their spine?


President Barack Obama on Wednesday imposed $500,000 caps on senior executive pay for the most distressed financial institutions receiving federal bailout money, saying Americans are upset with "executives being rewarded for failure."

Obama announced the dramatic new government intervention into corporate America at the White House, with Treasury Secretary Timothy Geithner at his side.

Now as I recall, a lot of people, including a lot of journowhores in the "media", think that people who support the Iraq War but have never served in the nation's armed forces are "chickenhawks". Since Obama has never held a job in the private sector and is now directing payroll decisions for the private sector, doesn't that make him a "bogusmogul" of some sort?

Obviously the above has far-reaching consequences and depths of meaning to anyone who dislikes socialism and statism, but it also has a good side. Because I'm an American, and I'm a little upset that Odalys Garcia hasn't offered to be my sweet patootie. Well, here in Obamatopia, I don't know Ms. Garcia, I'm willing to bet the President doesn't know Ms. Garcia, and I'm pretty sure it's business of neither of ours who she picks to be her sweet patootie.

So I figure I'm in. Howdy Odalys!


cnick said...

Half of this post reads like gibberish to me. But, on the issue of limiting executive pay: if the government is handing over cash to a company, they are free to impose whatever restrictions they want. The question is not whether the government has that right (they obviously do, this sort of thing happens all the time), the question is WHY are they doing this.

Since firms that don't accept any bailout money will be able to pay their executives more, they will end up hiring the best people. The firms needing bailout money, the same firms that are already presumably in trouble, will be stuck with the leftovers, thus hurting them further and counteracting some of the benefits of the bailout money.

So it seems that this is being done more as a PR move than an economic one. How very Republican!

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